## A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the rema

Question

A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the remainder at:<br /><br />(a) 6 % , (b) 6.1 %, (c) 6.2 %, (d) 6.3 %, (e) 6.4 %

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Math
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2021-08-18T08:03:07+00:00
2021-08-18T08:03:07+00:00 2 Answers
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## Answers ( )

Given :Total Amount = $ 10,000.

Amount he invests = $ 4000 at 5 % and = $ 3500 at 4 %.

Yearly Income = $ 500.

According to the question :Remindercash:Total – Amount he invests

= 10000 – 4000 – 3500

= 2500 .

Amount he invests :A) $ 4000 at 5 %

= 4000 × 5 / 100

= $ 200 .

B) $ 3500 at 4 %

= 3500 × 4 / 100

= $ 140.

Remainderincome:Yearly income – Amount he invests A and B

= 500 – 200 – 140

= 160.

FinalAnswer:Remainder income × 100 / Remainder cash

= ( 160 × 100 ) / 2500

= 6.4 .

## Therefore the answer is 6.4.

## option E

## Hope it helps you mate .

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